---
kind: "section"
citation: "7 C.F.R. § 1786.154"
title: "7"
number: "1786.154"
heading: "Qualified Notes."
url: "https://uscodex.org/cfr/7/1786.154"
---

# §1786.154. Qualified Notes.


An eligible borrower may prepay Qualified Notes under this subpart at the discounted present value. A Qualified Note is a note evidencing an RUS electric loan, all advances of which were made prior to May 1, 1992, or not less than 2 years prior to the date of prepayment closing. See §§ [1786.155(a)(3)](/cfr/7/1786.155.md?p=a-3) and [1786.158 (h)](/cfr/7/1786.158.md?p=h) and [(j)](/cfr/7/1786.158.md?p=j).


## Notes

### Authority

Authority: 7 U.S.C. 901 et seq.; Pub. L. 103-354, 108 Stat. 3178 (7 U.S.C. 6941 et seq. ).

### Source

Source: 59 FR 13620, Mar. 22, 1994, unless otherwise noted.

### Authority

Authority: 7 U.S.C. 901-950b; Title I, subtitle B, Pub. L. 99-509; Pub. L. 101-624, 104 Stat. 4051; Pub. L. 103-354, 108 Stat. 3178, (7 U.S.C. 6941 et seq. ), unless otherwise noted.

### Source

Source: 55 FR 1145, Jan. 11, 1990, unless otherwise noted.